Ford [Nyse: F] Ensures Fuel Efficient Suv With $400 Million
Around $180 million of the fund will go to investment for manufacturing at Chicago sites while another $220 million will go to the engineering costs of the new sports utility vehicle.
The new, more fuel efficient Ford Explorer is expected to give users fuel savings of no less that 25 percent compared to that of the original model. Features of the new Ford Explorer include Ford’s EcoBoost engine technology, unibody construction, lightweight components, and six-speed transmission.
The new line of fuel-efficient vehicle will be in produced in the last quarter of the year at the Chicago plant.
Ford’s president of the Americas Mark Fields says the new model of Explorer will retain the capability Ford customers want while providing excellent fuel efficiency, convenience, and comfort.
Production for Ford’s Chicago manufacturing office will further be boosted by the 1,200 employment opportunities it will be giving.
Ford was recently given a legislation right by Illinois Governor Pat Quinn to be included in the Economic Development for a Growing Economy program of Illinois, which enables companies to get tax incentives from making and retaining jobs and for making new investments.
Aside from boosting its fuel efficient line of products, Ford has also recently launched a voluntary Go Green initiative for Ford and Lincoln Mercury dealers which will make it easy for dealers to lessen their operations’ carbon footprint. Interested dealers will get an energy assessment from Ford sustainability experts, after which the dealer will then cooperate with Ford in deciding on the best energy-saving option so that a program might be customized for the dealer. Benefits for the participants of the program include State and Federal tax credit and incentive assistance and access to resources for choosing energy-efficient products.
Other green efforts by Ford include the use of 100 percent recycled fabric seating surfaces for the 2008 Ford Escape, the use of fuel-saving 6-speed transmissions for 15 of Ford, Lincoln, and Mercury models, introduction of the first clean diesel to heavy duty pick-up engines, installation of around 200 acres of sustainable landscaping in its two properties in Michigan, establishment as the first automaker to be a two-time winner for Environmental Protection Agency’s Energy Star award, turning the Ford Escape and Focus 80 percent recyclable, and creating a Ford system that burns paint fumes which can generate electricity.
Originally published here.
Sunshine Chen is a seasoned writer, having travelled around the world, largely putting all her experiences and the sights and sounds she has come across to paper. She now writes extensively about topics related to green news, mostly on renewable energy, but also on a variety of related topics as well. When not travelling around the world, she is based in Central Hong Kong, taking in the myriad colours, flavours, and scents of the melting pot that Hong Kong is known for.